AM Mortgage Market & Lock Commentary - 12-21-2011

DAILY MORTGAGE LOCK ADVISORY 

December 21, 2011, 6:45 AM PST

Click for Lock Advice Updated Several Times Daily  

Mortgage Interest Rate lock Advice for locks within 7 days:  FLOAT
Mortgage Points based on 3.5% Mortgage Backed Securities are down o.05 point. 

30 Day Mortgage Interest Rate Lock or Float Advice:  FLOAT with Caution

There is not conclusive evidence to lock but, In this uncertain market the best advice is to lock at historic low rates.

MORTGAGE MARKET INDICATORS   

National Average Fixed Rate Mortgage 3.94%         
MBS (3.5%) - 102.4, High: 102.41, Low: 102.28            
DJI Stocks currently $12,046.74,  Down $-56.84, Change -0.472%            
Asian & European Stock Market Indexes Up 0.573%            
Nymex Crude Oil Currently $97.77 Up $0.53                    
                                                    
MORTGAGE NEWS BRIEFS What's Behind the Upward Trend in Housing Activity?
December 21, 2011 5:53 AM EST
Housing starts rose much more than expected during November, as unseasonably warm weather allowed builders to begin work on more projects than they usually do in November.  Read more International Business Times

Housing Starts Strongest in Nearly Two Years
12/20/2011 By: Ryan Schuette
A pickup in job growth and record-low mortgage rates helped fast-track housing starts to their strongest performance in nearly two years in November, with rental property construction ahead of single-family home starts.  Read More MReport.

7 Things Highly Productive People Do
You have more important things to focus on than, um, focusing. Get back on track with these tips.
You probably don't want to admit it but you love distractions. In fact, just like monkeys, you get a shot of dopamine every time something pulls you in another direction. Why do you think you check your email so much?Read more in Linkedin

Mortgage Fees Would Rise Under Payroll Tax Cut Deal
Homebuyers, beware.
In exchange for a two-month tax cut, the Senate on Saturday approved a permanent increase in fees attached to mortgages backed by Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA).
The fee hike would apply to new mortgages and new refinances, and would last for the life of the loans Read More Linkedin.